Small business owners have started to realize the benefits of offering gift cards, coupons and membership rewards programs. These promotions have the ability to build brand loyalty, recognition and reach. Here we discuss why your small business should offer these programs and how to implement your ideas.
Why?
Build A Loyal Customer Base
Consumers actively search for deals and becoming known for offering valuable savings opportunities can greatly increase your core customer base. When consumers know they can rely on your store to provide a quality product, adding value through coupons and gift cards makes them feel appreciated, which creates brand loyalty.
Draw In New Customers
People who never would have considered shopping at your store will suddenly become interested because of a valuable coupon or complimentary gift card. Even if a customer is currently loyal to a competitor, the lure of a great deal on a favorite product is hardly ever turned down.
Expand Your Marketing Reach
Gift cards and coupons come in many forms. Utilizing direct mail marketing techniques to reach your customers with discount opportunities is a staple of small business. Online coupons and gift cards have become increasingly popular due to their convenience and ease of use. No longer do you need to bring in a stack of paper coupons. In many cases all you need is your smartphone.
Increase Brand Recognition
Gift cards serve as a mini billboard placed within your customer’s wallet as a constant reminder to come and visit your establishment. Gift cards allow already loyal customers to influence others into purchasing your products. There is a large community of deal seekers and quality coupons and gift card rewards programs are shared throughout.
Provide Value To Your Customers
The way you treat your customers and the value you provide them is ultimately the way your company will be view by the public. The customer experience is enhanced greatly when coupons and gift card rewards programs are personalized for their needs and interests.
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How?
Same As Cash Rewards
A points system that rewards customers for each purchase can be implemented to keep customers coming back. A quality rewards program shows your appreciation for their purchase and can breed loyal customers for years to come.
Free Gifts
Free gifts for card members can be provided on holidays, first purchase anniversaries and when a customer hits a certain purchase dollar amount. These gifts should fit their buying profile and be of reasonable value. A gift that does not fit the customer or is just a cheap gesture can have a negative effect on your promotion.
Special Offers
Personalized special offers based on previous purchases can be used to entice previous customers to return to your store. You can also use these promotions for first time buyers to draw in new customers. These types of offers can also be used to upsell complimentary products.
Refillable Gift Cards And Memberships
Creating refillable cards with membership benefits is a great way to develop brand loyalty and increase sales. Membership rewards will entice patrons to make purchases they otherwise may not have considered. These programs help to endear your brand to your customers and provide them value. Satisfied customers become brand evangelists and give you an invaluable resource; word of mouth advertising.
Gift Card and Coupon Malls
Gift card and coupon malls have popped up all over the internet and have become a valuable marketing and branding tool for small business owners. These websites put your brand in front of thousands of potential customers and are relatively inexpensive to advertise on.
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